What does a procurement manager do?

A procurement manager is responsible for procuring, managing and sourcing goods for a company. A procurement manager is also a supply chain manager, who devises sourcing strategies that are beneficial to the company. Since reducing procurement costs is one of the key benchmarks, a procurement manager’s vital role is to negotiate contracts with vendors and suppliers, so that there is best value for money. Besides negotiation, there is a lot of strategizing involved in the process of procurement project management to secure advantageous terms and conditions from vendors and suppliers.

You might hire a procurement manager to:

  • Plan and execute sourcing strategies that guarantees the best costs for goods and services for the company
  • Oversee the procurement process from start to finish, and maintain logs at every step of the way
  • Foster long-term relationships with vendors and suppliers who provide the best offers during supply chain procurement
  • Finalise product purchases and follow up on its timely delivery
  • Negotiate with existing and potential suppliers and review the present contracts to ensure the future scope of business for procurement and vendor management

Intro

At [Company X], we believe that our time is best spent investing in growth and people. We are seeking a highly skilled procurement manager to help us cut expenses so that we can focus on the professional growth of our employees and organisation. With strong leadership and decision-making skills, the procurement manager candidate must not get flustered dealing with a large network of suppliers and distributors. The procurement manager must be a smooth talker, who can build and foster long-term relationships with vendors that are beneficial to the company. Being a numbers man (or woman), the procurement manager in question must represent and protect the company and its brand image, given that they are the face of the company to many industry professionals

Objectives of this role

  • Guarantee that the company is getting the best value for money while procuring goods and services from vendors and distributors
  • Negotiate contracts and deals with sellers to promote maximum cost-savings in the sourcing and supply chain management system
  • Devise and execute procurement strategies that benefit the business in the best way
  • Adhere to applicable legal frameworks and regulations while striking deals with distributors and vendors

Responsibilities

  • Negotiate contracts and deals with sellers and distributors during procurement and management of goods and services
  • Ensure compliance with regulations and practices by maintaining an ethical stance through and through
  • Boost cost savings by analysing market trends and technologies that promote it
  • Deep dive into research and chalk out potential vendors and suppliers for purchase and material management
  • Document, log and report on procurement activities
  • Approve purchase orders and ensure the timely delivery of goods and services
  • Build and foster long-term relationships with existing and potential suppliers

Required skills and qualifications

  • Bachelor’s degree in supply chain management, logistics or a similar field
  • Prior experience working as a procurement manager or in the supply chain field
  • Attention to detail along with outstanding verbal, written and interpersonal communication skills
  • Experience working with vendors, suppliers or managing a team of procurement professionals

Preferred skills and qualifications

  • Master’s degree in supply chain, logistics, or a related field of study
  • Experience devising procurement strategies or managing procurement budgets
  • Proficiency in common data analysis tools